Discussion in 'Guitars in General' started by Gasp100, May 23, 2019.
That is exactly what my friend who works at GC told me their formula is.
The only thing you want to trade in to GC are cheap pedals if you want to get 10% off a bigger purchase. That's given if they don't negotiate anymore. If they do, you should be able to talk 20% off new gear anyways. Rule of thumb is they mark up all new gear roughly 50% what they buy for from the manufacturer. Therefore, if their price is $1500, it cost them $1000, or less. I worked at a GC as the front desk stamper boy when I was in high school (2005). I had a computer with access to all inventory and prices. Aside from accessories, it was almost a 50% mark up across the board. When you get into cables it got laughable. Livewires would cost them $12 and they'd mark up to $17, but for Monster and Mogami they'd buy them for $13 and mark them up to $50.
As far as what they give you for trade in's, the easy math is roughly 40-45% of what it sells for new (given it's in good condition). For stuff that is out of production, it is roughly 65% of what it sells for on ebay/reverb.
Immediacy and finality. If GC buys your gear, they won’t come back to you with buyer’s remorse and some made up ******** reason to get their money back, and won’t be filing a trumped up claim with PayPal/Reverb/eBay that will be honored without question. That’s worth something.
Worth something, yes. Worth taking $1000 for a guitar you can get $2000 for? I guess that's for the individual to decide, but it's a resounding nope from me.
Or just sell on Craigslist like I do when I decide to move a guitar to a new home...no fees, no shipping debacles, and no one filing a claim with Paypal for a 50% partial refund because they found a beard hair when they opened up the control cavity .
Honestly, in my opinion there are only 3 reasons to sell a guitar to GC:
1). They have something you want to buy and the discount makes up for the $$$ you lose on the trade
2). You don't care about money at all and want to get the whole transaction done and over with in 30 minutes.
3). You need money immediately and can't wait a few days for it to sell via Craigslist or some other method.
Thanks guys, prepping for a gig tonight and worked on cleaning the fretboard last night and I've decided to keep the guitar. No chance I'm going to find a better LP @ $1300 and it would be ludicrously stupid to give away the guitar to GC for $650 or whatever they would offer.
Sometimes you just need a sanity check!
I decided to test the new buying method/formula today, and even the longtime employee was surprised. I took in a musicman silo with a floyd and Birdseye maple neck. The older ones (like this one) go for about 1k on reverb and ebay. They offered me 447.00 for it. I sold them one that was not as desirable for 700.00 about 2 years ago.
Correct. The used selling price is just what the market dictates. Nothing to do with the new price of the item. Trust me, I have over a decade of experience with this company on the inside. Most of what has been said in this thread is at best speculation. Little of it is correct more than a tiny degree.
I traded in a piece of gear with GC a couple months ago. The manager basically looked up what they were selling or had sold the same used gear for, then offered me about 65 percent of that number for it. It was a fair deal given the circumstances.
One thing to remember is how desirable your item is. That will impact you on the margins. Selling a guitar that they have tons of won’t garner as much, nor will partscaster things either. You won’t recover the cost of mods you made to a guitar. And frankly mods many times lower the desirability of an instrument because most buyers want something close to stock.
This^ is your answer. I’ve done it a couple of times with no regrets and that was the math used at the two different stores where I’ve done it. Used Traditional Pros at GC are going between $1,200 and $1,500 so let’s use $1,350 as the median as a ballpark estimate. .65 of $1,350 is $877.50 so I’d bet you’d be right around there. It never hurts to see what they offer, no is free as they say!
I thought I’d chime in here even though you said you are keeping the guitar. Good luck at the gig tonight!
You could bring your guitar into Guitar Center (or any other guitar store) to trade. Or... you could just simply set it on fire.
Maybe better yet, just sell the guitar privately and come out on top.
Just sold two guitars to GC an hour ago.
A 97 LP Standard DC Studio cherry sunburst I paid $700 for, and an 05 Flying V 67RI that I traded an LP Tribute Goldtop for (paid $700 for the GT). Told them you'll hang the V up for $1000, the DC for $799, so I know the 60% thing applies. Kid said great, you made my job easier.
Walked out with a check for $1100.
They were drooling over the V, antique white w/ebony board & BB1/2 pups.
So I had and played both guitars for several months and it only cost $300 for that experience.
No shipping, refunds, returns or complaints.
Worked for me.
I decided that GC was definitely not the place for trade ins. Very low prices offered for EX+ instruments in high demand, and they do not sell on consignment. You are better off going to a local independent music store that does consignment sales. I have sold several guitars with the Olde Town Pickin Parlor and National Speaker in Denver, and Blues Angel in Pensacola. They will price your instrument fairly and their take is usually in the 20% region, which is fair.
Friends don't let friends trade in their guitars at Guitar Center.
I buy used gear from GC literally on a monthly basis and just get it shipped to my local store 10 mins away from me. I unbox it, check it out, and if there's an issue I return it on the spot and get a refund. Refunds can take a couple of days to a week to process, but that has nothing to do with GC as a company and more to do with how credit cards work. Not sure why you bothered dealing with their phone support in the first place regarding used gear, GC has the most liberal return policy ever. You could've just taken that busted pedal straight to a GC in LA and returned it and gotten a full refund back to the original form of payment.
Also it's holding your cash "hostage", not ransom. Ransom is demanding money for the release of something .
If I were you I might try Reverb but sell the guitar “as is” where you cannot return it so you are protected against that. I would do a bit of research online to see what they are going for and try to be in that ballpark. With a Les Paul which, is a common guitar, you might have to be a bit patient. In the end you will get more that you would in trade.
Hard to argue with such a solid reply lol, but I've scored some of the very best gear deals of my entire life from GC used...many of them were guitars I got for $500-$1000 less than they should have cost used. I just can't advise people not to shop there given that fact, their lack of knowledge on certain things very often results in a huge score for a knowledgable customer.
Yes, their customer service often leaves a lot to be desired and sometimes you get an item that wasn't as described, is damaged, or has some other issue. That's what the super liberal and easy return policy is for. I've probably had to return a purchase maybe 6-7 times over the last 3-4 years, but the 10 mins I wasted doing so each time was more than worth it for the dozen+ insane grabs I've been able to make there.
They paid me absolute top dollar for my 61 Double Anniversary.
Do you have a local mom & pop that does consignments? They usually take 20 to 25% but it's no hassle to you. And they often command a higher price, especially if they sell online and have some name recognition behind the store.. If they get $1,100, that's $825 in your pocket with no shipping, fees or hassle.
Sometimes selling to GC works. No Shipping, No PP disputes, no Reverb or Ebay fees
Example: A Flaxwood Leikki, listed on Reverb for $1200, no takers for over 60 days. Sold it to GC for $800 .. they turned around and sold it for $1200 in about 40 days. Go figure!
I agree with your points, for sure. Ship to the store sounds like a way less riskier method, just involves a drive to GC and a lot of patience when you get there...
Great deals to be found that’s true too. I’ve found many. I’ve just had really bad luck with shipping issues.